Bank of Maharashtra to raise Rs 1,000 cr via bonds

India Infoline News Service | Mumbai | December 02, 2016 17:07 IST

Bank of Maharashtra is expected to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis.

Bank of Maharashtra is planning to raise Rs 1,000 crore through bonds to fund business expansion. The bank is expected to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis.

Bank of Maharashtra is currently trading at Rs 29.1, down by Rs 0.45 or 1.52% from its previous closing of Rs 29.55 on the BSE.

The scrip opened at Rs 29.45 and has touched a high and low of Rs 29.6 and Rs 29.05 respectively. So far 72714(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3452.43 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 37.4 on 07-Jul-2016 and a 52 week low of Rs 25 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 30 and Rs 28.65 respectively.

The promoters holding in the company stood at 81.61 % while Institutions and Non-Institutions held 13.38 % and 5.01 % respectively.

The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

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